Mortgages

West Brom Building Society has launched a 10-year fixed rate mortgage at 3.99 per cent, available at a maximum loan-to-value (LTV) ratio of 75 per cent with a £199 booking fee. The group has also cut rates on five-year deals by up to 0.3 per cent.

Norwich & Peterborough Building Society has launched a five-year fixed rate mortgage at 2.94 per cent, available up to 75 per cent loan-to-value (LTV) and has a £1,295 product fee.

For those with a 20 per cent deposit, N&P is offering a two-year fixed rate at 2.29 per cent, and at 90% LTV a three-year fix at 3.49 per cent rate. Both mortgages have a £1,295 product fee

HSBC launched its first sub-1 per cent mortgage. Borrowers with a 40% deposit or equity can access a discounted variable rate of 0.99%. It also offers a two-year fixed rate mortgage at 1.49%. Both products have a £1,999 booking fee.

Nationwide has reduced its 95 per cent loan-to-value Save-to-Buy rates by up to 0.7 per cent.

Investments

M&G has cut the annual management charge on two of its Episode multi-asset funds by 5bps. Ongoing charges will also fall as a result: Episode Balanced had an ongoing charges figure (OCF) of 0.93% prior to the AMC cut, while Episode Income had an OCF of 0.86%.

Old Mutual Global Investors is to launch a new Pan African fund for UK investors, to be managed by Cavan Osborne, who has been running African equity funds for the past three years for Old Mutual.

Franklin Templeton has launched a multi-manager alternatives fund for European investors based on an existing US strategy run by alternative solutions provider K2.